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INCOME TAX RETURN FILING FOR TRUST REG

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MEENA VIVEK

MANAGER

205 Points Posted on 21 November 2022

I am running a charitable trust purely for charitable purposes such as Education,medical relief,relief to the poor etc.The trust is registered u/s 12A of the income tax act 1961.The source of income of the trust is Bank interest for FD only.The trust has invested it's corpus fund as per section11(5) of the act and No 80G exemption.The trust's annual income is 1.75 Lakhs which is below the threshold exemption limit.I need your advice regarding filing ITR 7.As the income is below Rs.2.50 Lakhs is it mandatory for the trust to file its return of income in ITR 7 under section 139 when there is no TDS.Please Guide me.

Replies (2)

Quick Summary

This discussion addresses whether a charitable trust, registered under section 12A and earning below the exemption limit solely from bank interest, is still required to file an Income Tax Return (ITR) 7. The consensus is that trusts falling under specific sections of the Income Tax Act, including those for charitable purposes, have a mandatory obligation to file their return of income regardless of their total income amount.